After trading in the red for nearly a couple of hours, the market has rallied into positive territory in late morning trade with investors indulging in some brisk buying in bank, realty, metal and oil stocks, following the release of November inflation data.
A few stocks from automobile, capital goods and information technology sectors too have moved up smartly. Healthcare, power and FMCG stocks remain subdued.
The Sensex, which declined to 19,193.11 earlier in the day, is now up 65.50 points or 0.35% at 19,294.76. The Nifty index of the National Stock Exchange is up 18.25 points or 0.32% at 5869.75.
According to the data released by the government this morning, inflation declines to 7.24% in November from 7.45% in the previous month and 9.46% in November, 2011.
The primary articles inflation rose to 9.42% as against 8.21% in the previous month. The food articles ifnlation also rose to 8.5% as compared to 6.62% in October.
State Bank of India, Jindal Steel & Power, Tata Consultancy Services, Tata Motors, Reliance Industries, ICICI Bank, Larsen & Toubro and Mahindra & Mahindra are up with solid gains.
Nifty stocks DLF, IDFC, Kotak Bank, Ultratech Cement, Axis Bank, BPCL, Cairn India, Bank of Baroda, Sesa Goa, Punjab National Bank and Reliance Infrastructure are also trading firm.
Bharti Airtel, Power Grid Corporation, Ambuja Cements, BHEL, Hero Motocorp, Maruti Suzuki, Asian Paints, ITC, Lupin, Infosys and HDFC are down 0.5% - 1.5%.
Oracle Financial Services, Yes Bank, Adani Ports, Glenmark Pharmaceuticals, IDBI India, Bharat Forge, InduInd Bank, Bank of India, Tata Chemicals, Ashok Leylandm, SAIL, Reliance Communications, JSW Steel and Adani Enterprises are among the prominent gainers in the Junior Nifty index.